Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Schedule of current and deferred amounts of the provision for income taxes expense

(Dollars in thousands)	2023		2022		2021
Current	$	3,853	$	6,665	$	9,548
Deferred		1,268		611		450
Total income tax expense	$	5,121	$	7,276	$	9,998

Schedule of the components of the net deferred tax asset

(Dollars in thousands)	2023		2022
Deferred tax assets:
Allowance for loan losses	$	4,789	$	5,916
Lease liability		2,397		1,787
Defined benefit plan		1,635		1,798
Deferred compensation		694		860
Deferred loan fees and costs				59
Investment securities available for sale		11,270		14,266
Other		339		196
Total		21,124		24,882
Deferred tax liabilities:
Lease right-of-use assets		2,313		1,718
Premises and equipment, net		2,109		1,692
Merger related accounting		474		472
Deferred loan costs		92
Accrued compensation		1,912		1,872
Other		454		389
Total		7,354		6,143
Net deferred tax asset	$	13,770	$	18,739

Schedule of the reconciliation between the amount of the effective income tax expense and the income tax expense that would have been provided at the federal statutory rate

		2023				2022				2021
(Dollars in thousands, except percents)	Amount		%		Amount		%		Amount		%
Provision for income tax at statutory rate	$	6,825	21.00	%	$	9,527	21.00	%	$	11,239	21.00	%
State tax, net of federal benefit		397	1.22			216	0.63			475	0.89
Tax exempt interest		(1,057)	(3.25)			(1,400)	(3.09)			(1,194)	(2.23)
Bank owned life insurance income		(221)	(0.68)			(205)	(0.45)			(119)	(0.22)
Residential housing program tax credits		(755)	(2.32)			(911)	(2.01)			(1,091)	(2.04)
Nondeductible transaction costs		179	0.55
Other, net		(247)	(0.76)			49	(0.04)			688	1.29
Total	$	5,121	15.76	%	$	7,276	16.04	%	$	9,998	18.69	%